NerdWallet "rounds of layoffs" Reviews | Glassdoor

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NerdWallet Employee Reviews about "rounds of layoffs"

Updated Mar 19, 2018

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3.4
58%
Recommend to a Friend
63%
Approve of CEO
NerdWallet CEO Tim Chen
Tim Chen
95 Ratings
Pros
  • "The work life balance here is unparalleled - everyone gets their work done without needing to force anyone to work late(in 21 reviews)

  • "The perks are amazing too, from catered lunches to bootcamp classes to weekly happy hours(in 12 reviews)

Cons
More Pros and Cons

Reviews about "rounds of layoffs"

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  1. Helpful (2)

    "Content team review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Staff Writer 
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at NerdWallet full-time for more than a year

    Pros

    +excellent compensation and perks, including telecommuting +smart, experienced coworkers who believe in the mission +high editorial standards +transparency and lots of communication from management

    Cons

    +morale is low, thanks to a few tough rounds of layoffs +processes change pretty frequently, and there is less transparency into those changes than there was a few years ago, when the company was smaller. (although, ultimately, NW leadership shares much more with its employees than most companies.) fast changes mean you must be able to adapt or speak up if you're unsure of where you fit in. +other reviewers have mentioned growing pains, which i think is fair. but i believe, overall, the leadership is mission-focused and trying to learn from past missteps.

    NerdWallet2017-12-04
  2. Helpful (14)

    "Not what I expected"

    StarStarStarStarStar
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Approves of CEO

    I worked at NerdWallet full-time for more than a year

    Pros

    Really great perks (unlimited PTO, free lunch, good benefits, great work life balance)

    Cons

    -Multiple rounds of layoffs have made it seem like they don't want to be there or are looking for their next roles. The atmosphere is also really cliquey, people don't really go outside of their comfort zones to talk to people not on their team. Lots of politics in play. - They talk a lot about being transparent, but I never got that sense. They let rumors go on and on all over blind and within the company and waited days before the layoffs, making everyone feel like they were on the chopping block. - Multiple people talk about certain leaders that are only there because they are friends with the CEO. It's almost a known thing that isn't dealt with

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    NerdWallet2018-03-19
  3. Helpful (31)

    "Shaky year, with another rough year ahead"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in San Francisco, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at NerdWallet full-time for more than a year

    Pros

    Work-life balance is good, salary is higher than most companies in SF. Depending what team you're on, unlimited PTO can mean up to 4-5 weeks. Mission-driven company, with a decent ability to take ownership and have impact. Especially if you're willing to play the political game to assert yourself. CEO really does want to do good in the world. New CFO seems determined to bring back a sense of stability and thoughtfulness to the company.

    Cons

    - Three rounds of layoffs this year has crashed the company morale. People come in by 10, leave by 5, and generally eat at their desks. Everyone outside of leadership is in survival mode and needs to constantly prove their worth to make sure they're not the next one gone. This makes it really difficult to focus on the mission. - Leadership seems content to keep telling white lies, like leading employees to believe the org changes will be permanent, that there aren't likely to be more reorgs in the future. This is never true in the tech scene, but it's the flippant attitude of leadership that makes this concerning. In truth, the reorgs were all rash decisions made overnight by a few key people in power. - Politics are rampant. Everything at NerdWallet is about who you know, who will speak up for you, and who can help protect your position. - PMs are entirely new and inexperienced. They were shuffled from other parts of the business when the first reorg happened this year. While they are capable and dedicated, there is still a learning curve when the 40 people running a product org are new to the role. - Super cliquey. If you go to happy hour, you'll see teams drinking with their immediate team members, and ignoring everyone else. Lunch is the same. - Office tends to look like a war zone. Everyone who is a manager level or higher is in meetings all day, so they're never at their desks. Everyone else seems to be on vacation, in hiding, or maybe interviewing for their next role. Desks are empty on every floor.

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    NerdWallet2017-12-12
  4. Helpful (16)

    "Just a mess"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Designer in San Francisco, CA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at NerdWallet full-time for more than a year

    Pros

    Good work-life balance Some people were a pleasure to work with Great benefits

    Cons

    Leadership is awful 3 rounds of layoffs in 8 months Design team is a complete disaster since there is a lack of leadership Moral diminished after the first round of layoffs Impossible to get projects done because of the amount of pushback given Communication between teams is almost no existent

    NerdWallet2017-12-08
  5. Helpful (14)

    "NW's business model isn't working"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at NerdWallet full-time

    Pros

    - phenomenal culture. people are genuinely nice and collaborative - great comp and benefits. probably one of the best in the valley - great work-life balance

    Cons

    - highly challenged business model. I have serious doubts about the company's long term success - weak leadership. Tim means well, is really smart and humble... but highly inexperienced and surrounded by so-so senior management - multiple rounds of layoffs has decimated morale

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    NerdWallet2017-12-14
  6. Helpful (14)

    "SEO dependent affiliate marketing company disguised as a personal finance tech company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at NerdWallet full-time for more than a year

    Pros

    - comp package was decent, but you could do much better if you are an engineer - free drinks and snacks, catered lunch and dinner - some smart coworkers - some people there actually believed in the mission - shiny new office in the twitter building - decent benefits, but nothing exciting when you consider other tech companies benefits package

    Cons

    - huge dependency on Search Engine Optimization (SEO) for revenue. when google manually penalized the company's search results, revenue dropped significantly hence the recent layoffs. you don't want to join a company that suffers tremendously when google sneezes - no marketing competency. the current CMO (CEO's childhood friend) was universally reviled. interim CMO is competent and a skilled leader but not sure how long he is staying around - no accountability and ownership in an over-engineered matrix reporting structure - incompetent senior leadership from CEO downwards. senior leadership plays the blame game and favoritism runs rampant - lack of product strategy, vision, and traction. an uninspiring chief product officer from realtor.com and yahoo pushed people out and hired his old friends from realtor.com and yahoo - virtually no growth this year (think single digit %) - the company officially laid off 100 people this year (40 in april, 6 in july, and 53 in november), but likely more behind the scenes. just google nerdwallet techcrunch - the company got rid of its cash bonus and only financial incentive to perform is to be promoted for measly equity refreshers - morale is extremely low after multiple rounds of layoffs, stagnant revenue, and lack of product traction. everyone is looking for a new job and half the people are constantly on 'vacations' (read: interviewing)

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    NerdWallet2017-11-29
  7. Helpful (12)

    "Don’t come for a marketing job"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at NerdWallet full-time

    Pros

    Nice office with great perks, the usual SF tech startup vibe. People are generally paid competitively.

    Cons

    Company leadership is a very serious problem, particularly in marketing. Leaders are inexperienced, and favoritism is what gets someone promoted and protected. The company stresses the importance of “test and learn” but it is impossible to get anything done in a place where ownership is overly distributed and unclear. Morale is dramatically low given multiple rounds of layoffs and the firing of the few talented people on the team.

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    NerdWallet2017-07-24

    NerdWallet Response

    August 3, 2017NerdWallet

    Hi there - although we recently made some changes to better focus on our product vision, we are confident in the direction the company is headed. Unfortunately, being a start-up, we are continually testing, iterating and learning in all areas of the organization, and leadership takes a detailed objective approach to any big decision. Thanks for leaving us this feedback.

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